Xconomy is reporting Carbonite is eyeing a possible IPO in 2011.
If all goes according to plan ... Carbonite will register for an initial public offering this year and go public sometime in 2011.
That’s not because it needs the money to keep growing—revenue has doubled every year since the company launched its service in 2006, and the company still has $15 million of the $20 million Series C money it raised in late 2008 in the bank. (That’s not even counting the additional $20 million in Series D funding that it raised earlier this month.) Rather, it’s because Friend sees Carbonite as the next Boston-area tech-and-marketing company that could go really big—the next VistaPrint (NASDAQ: VPRT) or Constant Contact (NASDAQ: CTCT).
The article takes you inside Carbonite and shows you how this Boston-area startup has risen to be a recognized leader in the cloud-based, online backup space, by simply playing on people's fears and emotions of losing their data.
Carbonite Eyes IPO, Aims to Be the Symantec of Online Backup